An Overview of Masters in Banking and Finance
The Banking and Finance sector is undoubtedly one of the most ever-changing industries in the business world. The Banking and Finance industry provides plenty of job opportunities. If you have an interest in stocks, financial markets, bonds, shares, and if you like to play with numbers, rates, and cost per share, then you must go on for a degree in Banking and Finance.
Pursuing a Master in Banking and Finance is one stepping stone to get into any famous organizations in the world. Studying and getting a degree from an eminent university or school can add up stars to the career.
Masters in Finance is a focused program, offering specialization in the analytical as well as the technical aspect of banking and finance quantitative methods.
What are the benefits of pursuing Masters in Banking and Finance program?
Masters in Banking and Finance is usually chosen by international students who are keen to study and analyze international economic trends, investments, assets, financial markets, stocks, shares, liabilities, etc. The duration of Masters in Banking and Finance usually spans between 12 months to 24 months.
Pursuing a Masters in Banking and Finance opens a large number of opportunities in the banking, financial, services, and sector of the economy. This program helps to form a brilliant industry knowledge and unique skill set which helps to attract employers while hiring.
Some of the job roles which students can-acquire after securing a master’s degree in banking and finance are such as – Financial Consultant, Finance Analyst, Bank Manager, Insurance Manager, Consultant, Risk Manager, Budget Analyst, Accountant, Market Research Analyst, and many more.
Eligibility Criteria
The eligibility criteria to get admission in Masters in Banking and Finance program is as followed:
- Standardized Test Scores: Students applying for Masters in Banking and Finance must give and submit the scores of tests like GRE or GMAT or TOEFL. The minimum score needs for these standardized test scores may vary from university to university.
- Minimum GPA: In general, the students who desire to pursue a Masters in Banking and Finance program must hold a minimum GPA of 3.0.
- Academic Clearance – Applicants should have completed their undergraduate degree from an accredited institution or university in the respective field.
Top 10 Masters in Banking and Finance courses
1. Canada
A) Douglas College – Post – Degree Diploma in Global Banking and Economics
The Post – Degree Diploma in Global Banking and Economics program will students study international trade theory, macroeconomics, international financial management, global business management, microeconomics, etc. After completing the one year program students can kick -start a career as a financial analyst, trade officer, and Foreign Service officer. This program will provide an understanding of the causes leading to the globalization of the world economy and upcoming opportunities.
Fee – CAD$17,400.00
Duration – 1 year
B) University of Toronto – MBA – Master of Business Administration Major in Risk Management and Financial Engineering
The MBA – Major in Risk Management and Financial Engineering program builds a strong foundation of quantitative skills and detailed knowledge about risk management circumstances in which tough decisions are made. The major will help the students to know different models and strategies which are used by banks to minimize its regulatory capital requirements. It will not only offer strong theoretical knowledge but will also make students join groups related to forming complex products and services to meet the needs of clients.
Fee – $63,020 for 1st Year and $66,170 for 2nd year
Duration – 2 years
C) York University – Master of Finance
The Schulich Master of Finance (MF) masters program focuses on the robust real-industry training and imparts knowledge about the analytical skills required to have a successful career in the modern finance sector. The program will deliver most lectures on private equity, corporate finance, banking functions, risk management, etc. Students will also get to participate in professional seminar series, course ethics classes, finance research seminars, and wide options to specialize in financial risk management or capital markets. The program equips each student to become a leader in the upcoming complex business sector.
Fee – CAD 76, 185
Duration – 12 months
2. The United Kingdom
A) The University of Greenwich – MSc in International Banking and Finance
The MSc in International Banking and Finance offers a combined study of various banking systems and international business markets, analyzing the globalized and changing modern banking sector. With the help of this program, students will get a critical and advanced understanding of theoretical education. It will also help them to better understand financial markets, corporate financial management, financial regulation, risk management, etc.
Fee – Euro 14,500
Duration – 1 year
B) University of Southampton – MSc International Banking & Financial Studies
The MSc International Banking & Financial Studies program can enhance the existing skills of the students, with the help of advanced and well-researched studies in the field of banking and finance. The master’s program will provide various opportunities to the students in learning software packages like Stata (econometrics) and EViews (statistical modeling and forecasting). The program will provide a clear understanding of how banks affect the working system of the world’s economy.
Fee – Pound 21,000
Duration – 1 year
C) University of Birmingham – MBA Global Banking and Finance
The MBA Global Banking and Finance program is specially created for graduate students who want to make their careers in the field of global banking and finance. The program focuses on improving the technical and management skills of students by aiming at key factors such as liability management, international banking, risk management, asset management, etc.
Fee – Pound 28,980
Duration – 2 years
D) University College London (UCL) – MSc in Banking and Finance
The MSc in Banking and Finance program targets theoretical and practical applications used in banking and digital banking. It emphasizes the strong analytical foundation of financial products and finance. Teaching under this program is completely research-driven and students have access to the different unique aspects of digital finance.
Fee – Pound 29,260
Duration – 1 year
3. Australia
A) Monash University – Master of Banking and Finance
The Master of Banking and Finance is one such comprehensive master’s program that offers in-depth knowledge to the students about the finance and banking industry. This program also connects itself with renowned research and practice papers; the degree enables students to form a great understanding of the role played by the global banking sector which provides practical opportunities to apply the same knowledge.
Fee – AUD 45,800
Duration – 1 to 2 years
B) Macquarie University – Master of Banking and Finance
The Master of Banking and Finance program is well-suited for the students who hold limited knowledge in the field of banking and finance. This master’s program offers a variety of specialized elective streams to the students which can be opted according to personal interests. The curricula of the masters program are highly practical which helps to meet and understand employers’ needs which improves practical capabilities as well as theoretical knowledge of the students.
Fee – AUD 38,000
Duration – 1.5 to 2 years
C) Swinburne University of Technology – Master of Finance and Banking (Advanced)
The Master of Finance and Banking (Advanced) is one such innovative program that is created to cater to students with design-related problem-solving skills, and practical knowledge about the banking and finance industry work system.
Fee – AUD 29,600
Duration – 2 years
Career Opportunities
There are plenty of job opportunities as well as a career in the banking and finance sector both nationally and internationally. Banking and Finance is one of the most liked career options made by students. Students who pursue MA/MSc/MBA in Finance seek a job in various fields such as consultancies, market research, government and private sectors, public accounting firms, banks, budget planning, etc.
Professionals in this field have the option to go on for teaching jobs as well in colleges and universities. Once the course is completed, graduates can start their career as an accountant or a trainee. Here are some of the typical job roles or positions offered are: Corporate Analyst, Account Manager, Investment banker, Executive Assistant, Cashier, Marketing Analyst, Bank Manager, Accountant, and many more.
The placement rate and average salary offered to the students are usually high due to the demand of the course by the industry. Average salary offered to an Accountant – $70,500, Risk Manager – $85,773, Financial Analyst – $85,660, Budget Analyst – $76,220, Market Research Analyst – $63,120. After graduating with a master’s degree in Banking and Finance the average salary offered is between $58,600 to &83,900.
Top companies that hire students with a master’s degree in banking and finance are – KPMG, Barclays, JP Morgan, Morgan Stanley, Bain & Company, etc.
Conclusion
These are some of the colleges that offer a degree in Masters in Banking and Finance. This program is in high demand seeing to the current situation prevailing in the world. Banking and Finance professionals hold complex analytical, leadership, and problem-solving skills that are needed in the economic industry. It is also a highly paid career field with plenty of career opportunities.
